Market research is an integral part of marketing, new product design and testing, and marketing strategy, as well as re-branding unsuccessful products.
Businesses need to know what customers think of their products, and this applies to new products as well as old ones.
For new products this can be a simple; do you like it? Would you buy it? Would you change anything, (name packaging etc)?
For old products it could be ‘is it modern enough? Does it need updated?
And for unsuccessful products the right questions can lead to small changes that turn a possible failure into a success.
Market research can be anything from stopping random people in the street to ask their opinion to large focus groups.
Recording this and getting it transcribed offers instant data that is so much easier to analyse than having to listen to hours of recording.
You can have verbatim transcriptions which include your target customers talking about ‘how sad they were when their dog spilt the cream all over the floor and they lost the rest of the jar of product’, or an intelligent transcription which says ‘they were sad when it fell and the product was destroyed’.
Once you have transcriptions of the market research, it is an easy matter to hone in on the crucial points, good and bad. These are the facts that let market researchers do their job to come up with a final analysis that helps the product or business.
In order to make the correct report the transcription must be done by a consummate professional as it needs to be completely accurate. That is what we at EQ Transcription Services offer; professional, reliable and quality transcriptions to improve your business and make your life easier.
Remember to the question – do you like it? The answer ‘yes’ is very different to ‘um… yea’. ‘Yes’ is probably around 100%, while the hesitation and pause could take it as low as 80% conviction that the product is good.
We transcribe the pauses as well as the words, and that makes a huge difference.